(ANSA-AFP) - FRANKFURT, JUL 5 - German industrial production
unexpectedly fell in May, official data showed Friday, fuelling
concerns that a tentative recovery in Europe's largest but
beleaguered economy is losing steam. Output dropped 2.5 percent
month-on-month, federal statistics agency Destatis said, after a
slight increase in April. Analysts surveyed by financial data
firm FactSet had expected an increase of 0.2 percent in May. Hit
by high inflation, a manufacturing slowdown and weakness in key
trading partners, Germany was the only major advanced economy
that shrank in 2023. At the start of the year a string of
indicators had suggested a recovery was gaining momentum but in
recent weeks those hopes have been tempered by less positive
data. (ANSA-AFP).
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